High Growth Tech Stocks in Germany to Watch This August 2024
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As the European markets show signs of optimism with Germany's DAX index rising by 1.70%, investors are increasingly looking towards high-growth tech stocks in Germany as potential opportunities amid broader market enthusiasm. Given the current economic backdrop, characterized by anticipated rate cuts and a favorable environment for small-cap companies, it's crucial to identify stocks that demonstrate strong fundamentals and innovative capabilities within this thriving sector.
Top 10 High Growth Tech Companies In Germany
| Name | Revenue Growth | Earnings Growth | Growth Rating |
|---|---|---|---|
| Ströer SE KGaA | 7.39% | 29.86% | ★★★★★☆ |
| Stemmer Imaging | 13.34% | 23.20% | ★★★★★☆ |
| Exasol | 14.66% | 117.10% | ★★★★★☆ |
| NAGA Group | 25.85% | 78.32% | ★★★★★☆ |
| medondo holding | 34.52% | 71.99% | ★★★★★☆ |
| ParTec | 41.16% | 63.31% | ★★★★★★ |
| Northern Data | 32.53% | 68.17% | ★★★★★☆ |
| cyan | 27.51% | 67.79% | ★★★★★☆ |
| Rubean | 59.40% | 73.87% | ★★★★★☆ |
| asknet Solutions | 20.06% | 74.86% | ★★★★★☆ |
Let's dive into some prime choices out of from the screener.
Northern Data
Simply Wall St Growth Rating: ★★★★★☆
Overview: Northern Data AG develops and operates high-performance computing (HPC) infrastructure solutions for businesses and research institutions worldwide, with a market cap of €1.59 billion.
Operations: Northern Data AG's primary revenue streams include Peak Mining (€156.13 million), Taiga Cloud (€22.13 million), and Ardent Data Centers (€31.46 million). The company also generates income from Other Companies and Group Functions, contributing €46.31 million to its overall revenue model.
Northern Data's revenue is forecast to grow at an impressive 32.5% annually, significantly outpacing the German market's 5.1%. Despite a net loss of €151 million in 2023, earnings are expected to surge by 68.17% per year, driven by robust R&D investments and strategic initiatives like the potential US IPO for its AI cloud computing and data center businesses valued between $10 billion and $16 billion. The company reaffirmed its fiscal year 2024 revenue target of €200-€240 million, aiming for substantial growth compared to previous years.
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Take a closer look at Northern Data's potential here in our health report.
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Understand Northern Data's track record by examining our Past report.
Formycon
Simply Wall St Growth Rating: ★★★★★☆
Overview: Formycon AG is a biotechnology company focused on developing biosimilar drugs in Germany and Switzerland, with a market cap of €923.46 million.
Operations: Formycon AG specializes in developing biosimilar drugs, primarily generating revenue from its Drug Delivery Systems segment, which brought in €60.80 million. The company operates mainly within Germany and Switzerland.